Setups to Watch for Wednesday
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Technical Commentary
SPY, DIA,
QQQ = 4-day Bull Flag price pattern
following record highs last week
IWM = close below short term support
Non-farm payrolls will be reported
on Friday March 10, this week.
Up Trend: XLF, XLI, XLB, XLY, XLK, XLP, XLU, XLV, XLRE
Sideways: XLE
Down Trend:
Breadth held at Monday’s levels as decliners led 2,080 to 901
on the NYSE and led 1,854 to 986 on the NASDAQ.
Tuesday – continued weak, decliners led, 1 sector unchanged
Monday – weakened, decliners led, +1
Friday – strengthened, advancers led on the NYSE, +4
Thursday – weakened, decliners led, +1
Wednesday – strengthened, advancers led, +8
DIA -0.15%, QQQ -0.17%, SPY
-0.30%, IWM -0.65%,
Stock indexes were down for the fourth straight day on below average volume on Tuesday.
SPY down .71
at 237.00 on 65.1 million shares, 13%
below average volume,
VIX up .21
at 11.45
TLT down .36
at 118.42…on 7.0 million shares 20% below average volume
Oil futures were down .39 to close at 52.79 on Tuesday.
The SPY MFC green line is in the upper zone at
86 bullish.
6-month Intermediate
Term Market Trend: Up
3-day Short Term Market
Trend: Down
SPX and NDX Highlights
SPX down 7 points at 2,368.
SPX gainers HUM, VIAB, ALB, FFIV, BBY, LEN, PHM, DHI, EA, SRCL, NVDA,
TXN, ESS, PX, GPN, NTRS, PCG, RTN, PDCO, PM, EXPE, CAN, BAX, QRVO, MO, CBG, EW,
INTC, BA, AVGO, SYMC, SRE, XL, CRM, UTX, ATVI
QQQ closes down .22 at 130.51.
NDX point leaders: GOOG, GOOL,
INTC, MSFT, AAPL, TXN, NVDA, DISH, AVGO and QCOM
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34 of 100 NDX stocks closed
higher and one was unchanged on Tuesday.
66 NDX stocks are above their 30 DMA,
pullback day 4.
NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 2
DISH, VIAB
Moving Below 30 DMA = 13
ALXN, BMRN, CHTR, ESRX,
FOXA, MAR, NFLX, PCAR, ROST, SBUX, TMUS, ULTA, VOD
_______________________________
Strong Stocks: Setups
and Moves You Can Use
Bull Flag Setups include: QQQ, SPY, DIA, XLF, FAS, XLI, XLK, XLP, IYR,
(click image to enlarge)
AXP,
BA, DIS, JPM, MCD, UTX, GS, MMM,
JD, STX,
KLAC, LRCX, MNST, MYL, NTAP, NTES, PAYX, PCLN, YHOO, NCLH, MAR, CTRP, SBUX,
AMZN, INTU,
GLW,
FLEX, BAC, C, WFC, USB, ZION, HBAN, HIG, MS,, SCHW, SRCL, LUV, SQ, SHOP, CC,
GD, SODA, GM, LOW,
One Day Pullback:
Bull Flag Bounces include: TXN, AVGO, WUBA, VIAB, WIX, (5)
(click image to enlarge)
Horizontal Breakout Setups include: AMAT, PYPL, ADBE, SYMC, WDC, CSX, DE, AA,
DD, NRG, BABA, CL, MXIM,
Horizontal Breakouts include: ATVI,
New Highs include: AAPL, CLX, FB, MU, UNH, ADI,
At Support Setups include: STI, RF, INTC,
ALK, CCL, HAL, WB, VALE, X, NUE, TMUS, AMD, RCL, ROST, PG, IBM, EBAY, TLT, LNG,
NKE, PANW, UPS, MT, CHK, AMBA, BHI, PCAR, ETFC, SWKS, COST,
Support Bounce: GOOGL, NVDA, SOXL, CAT, BBY,
Break of Support: IWM, STLD, ULTA, CLF, ADSK, HES, CF, MGM, COST, GDXJ,
_______________________________
Earnings
This week:
Monday –
Tuesday – HRB, URBN
Wednesday –
Thursday – SIG, SPLS, ULTA
Friday –
Earnings Reports
After-hours
reports
HRB +1.63, +7.82%
URBN -0.41, -1.61%
2016 Q4 EPS (since
Feb 15)
EPS Positive Reactions
BIG, MNST,
BURL, DLTR, AVGO, LOW, MYL, DCI, WUBA, ALB, BWXT, IONS, PCLN, ENDP, FL, KSS, INTU, JWN, NCLH, CTRP, WMT, HD, HSIC, XRAY, SHPG,
NTES, SRCL, NTAP, CSCO, SHPG, WIX, ADI, WYN, SODA,
EPS Negative Reactions
COST,
KR, PANW, BBY, AMBA, ROST, TGT, QVCA, BIDU,
BMRN, TSLA, SINA, LB, SLCA, VRSK, DISH, TRIP, ALXN, FOSL, AIG, DVN, KHC,
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